Rare earths miner pulls out of Whyalla deal
Rare earths miner, Arafura Resources, has officially terminated a land purchase agreement in Whyalla, South Australia, in a blow to the state’s mining sector.
Arufura had planned to construct a chemical processing facility as well as a rare earths separation facility on the site, however the company now claims significant cost savings can be made by locating the planned facility closer to their Nolans Bore Mine site in the Northern Territory.
The company issued a statement saying “Under the revised scope of the Project and following comprehensive investigative work by the Company, it is evident that the Whyalla site is no longer required to facilitate the needs of the Project. Furthermore, the Company believes it unlikely that any benefit could be retained by continuing with the purchase agreement.”
“The Company is examining a number of potential sites for rare earths separation as part of a global site assessment study.”